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Sunday 17.11.2019 | Name days: Uga, Hugo, Uģis

Compensation payments of defunct Latvian PNB Banka begins

With operations of the Latvian bank, AS PNB Banka, stopped, the process of paying the guaranteed compensation to its clients has begun on August 22, according Citadele, the lender tasked with the payments.

Subsidies to controversial Riga transport company could increase by EUR 20 mln

Amid the criticism of the Riga municipal transport company Rīgas satiksme for its losses and their effect on the Latvian state budget, a plan has been voiced to increase its subsidies, now 120 million euros, by another 20 million euros, Latvian Radio reports.

Latvian excise tax income up by 8% in first half of 2018

The Latvian excise tax income in the first half of 2019 has been 521 million euros, –an increase by 39 million euros, or 8.1% – compared to the respective period last year, showed data by the Latvian State Revenue Service.

Latvian PM: Most of freely available 2020 budget funds already earmarked

Discussing the 2020 Latvian national budget, Latvian prime minister Krišjānis Kariņš pointed out that its fiscal space is limited by previous decisions and that the expected losses of the Riga transport company will not permit raising wages and pensions nationally.

Consumer protection: 34% of Latvians admit post-vacation financial difficulties

During vacation, 77% of Latvians spend more money than planned, but 34% admit having trouble making ends meet after vacation, according to a poll by the Latvian Consumer Protection Centre.

EU: Rīgas satiksme cuts Latvian budget fiscal room in 2020 by 72 mln EUR

The Riga city company Rīgas satiksme should, according to European Union criteria, be in included in the general government sector, thus it would cut the fiscal space of the 2020 Latvian state budget by 72 million euros, Finance Ministry stated.

Latvijas Krājbanka’s administrator recovered 542 thousand euros in July

The administrator of the insolvent Latvian bank Latvijas Krājbanka recovered 524 444 euros in July, which is by 75% more than a month earlier, according to the official gazette Latvijas Vēstnesis.

Unemployment index in Latvia drops – rate down to 6.4% in Q2

In Q2 2019 Latvian unemployment rate constituted 6.4 %. Compared to the previous quarter, unemployment rate fell by 0.5 percentage points, and compared to the rate recorded a year ago, it dropped by 1.3 percentage points.

Volume of insurance claims paid in first six months reaches 196 million euros

In the first half-year of 2019, insurers in Latvia paid to their clients a total of EUR 195.6 million in the form of insurance claims, which is one-third below last year’s amount.

Latvia’s foreign trade turnover declines 10.3% in June

In June 2019 foreign trade turnover of Latvia amounted to EUR 2.19 billion at current prices constituting 10.3 % less than a year before, of which exports value of goods fell by 8.2 % and imports value of goods by 11.9 %.

Bye bye, Barclays! What (if anything) went wrong?

You know how it is: companies come and go, but the exiting of Britain’s Barclays from Vilnius is bitter both to the Lithuanian capital and the entire Lithuanian business community. Opened in 2010, in the midst of 2008 economic downturn, it had over 1 100 employees.


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